{"id":46261,"date":"2015-02-02T06:54:44","date_gmt":"2015-02-02T11:54:44","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=46261"},"modified":"2015-02-02T08:12:43","modified_gmt":"2015-02-02T13:12:43","slug":"bny-mellon-and-deutsche-asset-wealth-management-tie-up-outsourcing-deal","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2015\/bny-mellon-and-deutsche-asset-wealth-management-tie-up-outsourcing-deal.html","title":{"rendered":"BNY Mellon and Deutsche Asset &#038; Wealth Management Tie Up Outsourcing Deal"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2015\/02\/Fotolia_50816441_S-300x174.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" size-full wp-image-46264 alignleft\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2015\/02\/Fotolia_50816441_S-300x174.jpg\" alt=\"Fotolia_50816441_S-300x174\" width=\"300\" height=\"174\" \/><\/a>New York (HedgeCo.Net) &#8211; BNY Mellon has signed an agreement with Deutsche Asset &amp; Wealth Management (Deutsche AWM) to provide real estate and infrastructure fund administration services, representing roughly\u00a0<span class=\"xn-money\">$46.3 billion<\/span> in assets under administration.<\/p>\n<p>Last July, BNY Mellon and Deutsche AWM announced that they had entered into exclusive negotiations to complete an agreement. Terms of the deal, which closed effective <span class=\"xn-chron\">February 1<\/span>, were not disclosed.<\/p>\n<p>BNY Mellon is a leading administrator of alternative assets, including single manager hedge funds, funds of hedge funds and private equity, with roughly <span class=\"xn-money\">$715 billion<\/span> of alternative assets under administration and\/or custody.\u00a0As of <span class=\"xn-chron\">Dec. 31, 2014<\/span>, BNY Mellon had <span class=\"xn-money\">$28.5 trillion<\/span> in assets under custody and\/or administration, and <span class=\"xn-money\">$1.7 trillion<\/span> in assets under management.<\/p>\n<p>Under the agreement, Deutsche AWM will outsource its direct real estate and infrastructure fund finance, fund accounting, asset management accounting, and client and financial reporting functions to BNY Mellon. Up to 80 members of Deutsche AWM&#8217;s fund finance team are expected to transfer to BNY Mellon and become part of its Alternative Investment Services business.<\/p>\n<p>&#8220;As investors shift into other alternative investments, the market for real estate asset servicing is poised for solid growth,&#8221; said <span class=\"xn-person\">Samir Pandiri<\/span>, executive vice president and CEO of Asset Servicing at BNY Mellon. &#8220;Investment managers are turning to asset servicers like us who are better positioned to make the necessary investments in technology and people to deliver a higher level of service.<\/p>\n<p>Editing by Alex Akesson<br \/>\nFor <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; BNY Mellon has signed an agreement with Deutsche Asset &amp; Wealth Management (Deutsche AWM) to provide real estate and infrastructure fund administration services, representing roughly\u00a0$46.3 billion in assets under administration. Last July, BNY Mellon and Deutsche [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16044,3],"tags":[],"class_list":["post-46261","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-strategies-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/46261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=46261"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/46261\/revisions"}],"predecessor-version":[{"id":46265,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/46261\/revisions\/46265"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=46261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=46261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=46261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}